Mutual Savings Banks
Definition of "Mutual savings banks"
A saving bank owned by its depositors. They are mostly located in the northwestern United States and are an important supplier of real estate financing. All mutual savings banks are state chartered and typically are less regulated than their closest financing relative, the savings and loan association. The percentage of their assets invested in real estate mortgages is less than the average S&L, although a higher percentage of their total mortgage portfolio is FHA and VA loans. Most mutual banks have a relatively large percentage of mortgages. Mutual banks also make personal loans which can result in capital being moved from surplus areas to deficit areas. Over two-third of the mutual banks maintain membership in the FDIC. The remaining ones are insured by state savings insurance agencies. These state agencies exercise authority over both type of investments and amount of their assets mutual banks can invest in particular types of real estate.
Popular Real Estate Terms
Founded in 1969 and located in West Palm Beach, FL, NACORE has 3,273 members. Its members consist of anyone managing, administering and/or operating regional real estate departments for ...
The arrangement of the walls and rooms in a structure. A two-dimensional horizontal scale drawing of the arrangements, size, and orientation of doors, rooms, walls, and windows of a single ...
There’s a time when it’s neither a Buyer’s Market nor a Seller’s Market. We call it “Renter’s Market”. It’s that time where, despite ...
Method of construction where vertical siding is attached to a horizontal framing structure. Often found in the design of agricultural buildings. ...
Some real estate sales require court confirmation of purchase to protect heirs and debtors from financial wrongs. These sellers have to sell their property due to unique circumstances. They ...
Wondering what “de facto” means? Well, because it’s a Latin word, let’s give a formal definition. De facto is Latin for indeed, in fact, in reality, actually. An ...
Expenditures incurred to initially purchase property, including incidental costs necessary to put the property into existing use and location. This cost is then depreciated over the assets ...
Right to peaceful enjoyment of property while the legal title is held by one person and the property is used by another. ...
Securing lease commitments to a building prior to its being available for occupancy. For example, a developer offers a discounted lease to potential tenants providing they agree to sign a ...
Have a question or comment?
We're here to help.